In March, there was a one-week stretch where RUSL surged 32%, a move that was preceded by a 43% one-month gain for RUSS.
Although RSX has lost about $72 million in assets this month, money has been flowing into both RUSL and RUSS. Since Dec. 1, RUSL’s shares outstanding count has jumped to 22.3 million from 19.5 million even though the ETF has plunged 69% over that period. RUSL will be reverse split 1-for-6 on Dec. 23.
RUSS has seen its shares outstanding tally rise to 1.25 million from 1.05 million this month, according to Direxion data.
It is not uncommon for the laggard in a pair of leveraged ETFs to be the recipient of larger inflows, a scenario that has been seen time and again with miners funds such as the Direxion Daily Gold Miners Bull 3X Shares (NYSEArca: NUGT) and the Direxion Daily Gold Miners Bear 3X Shares (NYSEArca: DUST). [Same Song for Gold Miners ETFs]
“Historically, we’ve seen shares outstanding go up in the fund that was down on a particular day,” said Eschmann.
Direxion Daily Russia Bear 3x Shares
